The Europe golf simulators market size was valued at USD 313 million in 2021 and is projected to reach USD 723 million by 2030 at a CAGR of 10% during the forecast period (2022–2030).
A golf simulator allows golf to be played on a driving range or golf course that has been graphically or photographically simulated, typically indoors. A technical system enables some golfers to play regardless of the weather or time of day in converted facilities. The golf simulator is used to practice golf swings without purchasing expensive equipment. These are frequently used as part of a golf training program and can have software installed that simulates the appearance of an actual golf course and the tee shot of a real game. Some golf simulators can be installed indoors and do not need to be situated on grass.
Specific characteristics make a golf simulator exceptional. These include a 3D motion system, a high-quality projector, and realistic graphics. The simulator has all the necessary features to maximize your golf video game experience.
The demand for gaming simulators is growing as gamers increasingly prefer immersive and realistic games. Gaming simulators have the potential to accommodate these evolving tastes of gamers. Simultaneously, new platforms are being introduced to introduce innovative new games. As a result, market participants are developing advanced gaming simulators. In March of 2019, for instance, Next Level Racing released F-GT Lite, a portable racing cockpit that simulates Formula or GT racing.
The golf simulator comprises several expensive components, including projectors, screens, mats, and systems. There needs to be more demand and supply for golf simulators, which has restrained the whole market.
The sport of golf has gained immense popularity and adoption rates, particularly in North America and Europe, while its growth in the Asian region has been slower. In addition, golf is one of the most expensive sports to participate in, and while people's living standards have risen steadily over the past 50 years, their disposable incomes are falling, and many have eliminated golf to save money. This factor has also led to a decline in the popularity of sports, which has had a staggering effect on market growth.
The continued implementation of cutting-edge technologies, such as Virtual Reality (VR), in gaming simulators to provide realistic gaming experiences is anticipated to create new opportunities for market participants during the forecast period. Recognizing that young people are still interested in playing advanced games with rotating platforms and 360-degree cameras, vendors have begun offering portable gaming setups.
The number of gaming zones that offer enhanced gaming experiences through gaming simulators is increasing. Simultaneously, several e-sports championships organized in various regions also attract gamers. In response, market participants provide innovative gaming simulators for gaming zones and e-sports championships.
The Europe golf simulator market is segmented on the basis of information into offering, product type, installation, and application.
Based on the offering, the market is segmented into simulator systems, simulator services, and simulator software.
The simulation system segment holds the largest market share and is anticipated to maintain its dominance at a CAGR of 10.2% over the forecast period.
Based on product type, the market is segmented into portable and built-in.
The portable segment is expected to grow at a CAGR of 10.5% during the forecast period, making it the fastest-growing segment in the golf simulator market.
Based on the installation, the market is segmented into indoor and outdoor.
The indoor segment is anticipated to grow at a CAGR of 10.3% during the period forecast.
Based on application, the global market is segmented into Commercial Space, Corporate Events, Colleges and Universities, and other applications.
The commercial spaces segment is anticipated to grow at a CAGR of 10.4% over the forecast period.
Europe holds the second place in the global market and is anticipated to grow at a CAGR of 10% during the forecast period.Over half of golf consumer spending, USD 2.2 billion, was channeled through the nearly 3,000 golf clubs in the United Kingdom. Golf equipment and apparel accounted for USD 939 million in consumer spending, while golf-related tourism, events, and lodging accounted for USD 775 million. Scotland's golf tourism and significant tournaments are essential to the future success of golf in the United Kingdom. Scotland's overall solid performance in the UK golf industry is attributed to its highly developed golf tourism and events offering, its worldwide reputation as Scotland, the Home of Golf, and its higher participation rate than the rest of the UK.
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|